Lloyds Club Current Account Interest rate

Jintray

Watch the interest rate on this account. They advertise 1% on balances up to 4000 and 2% on 4000-5000. This does not mean you are getting 2% on 5000 - you only get 2% on the balance above 4000, up to 5000 (and 0% beyond). This means the interest rate is 1.2% on a constant 5000, and 1.11% on a constant 4500. I am not sure this was made plain to me at the time I opened the account, although reading the description carefully, it is obvious. 

General_Grant

Which is why you keep it topped up to £5K.
Your first sentence said all that one needs to know.

mgdavid

...and the last bit of the last sentence:

"....although reading the description carefully, it is obvious. ."

xxxxxxxx

Thank you Jintray,  I have these accounts, I already knew this but appreciate your taking the time to spell it out to people who may not have realised.  

surreysaver

And its the same with Bank of Scotland Vantage accounts. 

ZeroSum

This is like when folk don't understand regular savers. 

surreysaver

I do wonder why they want people to keep their accounts topped up to £5k. Same with the new Halifax Rewards account. Its as if Lloyds/BoS need a cash float 

CRISPIANNE3

I have  4 Club card accounts and keep them topped up with £5k. However this month I received the usual interest but on one of them no interest had been applied. I checked carefully and had paid in about £7k in (which is. a lot higher than usual) and three dd's were actioned. Never had an issue before. Tried to ring Lloyds but not taking calls today. 

crumpet_man

No interest for me either, maybe there is a technical issue or they are running slow.  Didn't get the Halifax £2 reward yet either.

wmb194

My interest hasn't been paid either. At least if this isn't an isolated incident we've a better chance of it turning up in a few days' time without us all having to phone them.

CRISPIANNE3

Nice to know I am not the only one!